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iFLY Gold Coast a winner at QLD Tourism Awards

November 2016: iFLY Indoor Skydiving Gold Coast is rejoicing their Silver Win for Best New Tourism Business in Queensland at the recent Queensland Tourism Awards; giving them even more reason to celebrate as their first birthday is fast approaching!

The Queensland Tourism Awards, proudly presented by Queensland Airports Limited in partnership with Tourism and Events Queensland, are recognised as the industry’s largest and most prestigious event.

The Awards have been operating for 32 years, acknowledging Queensland’s best tourism operators, who have demonstrated outstanding achievement and contribution to the state’s industry. They celebrate the creativity, professionalism and innovation of the Queensland tourism industry.

‘We are very pleased about the win’, comments iFLY Gold Coast Manager, Frazer Smith. ‘Being able to compete with some of the state’s best businesses and taking home an award is a huge success; especially because we are actually category winners – no one won Gold.’

Not even one year old, iFLY Gold Coast has had a huge first year; and will be turning one early 2017.

‘iFLY here at the Gold Coast has been incredibly popular since opening not only among local residents,and tourists.continues Smith. “It is incredibly safe with our expert instructors assisting all fist time flyers in the wind at all times. We even fly kids as young as 3 through to visiting celebrities”

With the recent filming of THOR on the Gold Coast iFLY was a popular choice by the visiting international stars and their families for some ‘down time’ and fun!

‘We hosted a lot of the crew, talent and their kids here at iFLY Gold Coast’ continues Smith ‘including Mark Ruffalo, Idris Elba and more!’

The Queensland Tourism Awards aim to recognise and promote excellence in tourism. Preceding the Presentation and Gala Dinner is an extensive process of on-site inspections and a full review of business planning, development and internal analysis of tourism.

‘The awards provide an opportunity to publicly recognise all our hard work and showcase the state’s finest tourism operators,’ comments Frazer Smith. ‘Judging from the numbers of visitors each month we know that iFLY Indoor Skydiving is a success. Now it is official!’

iFLY Indoor Skydiving is both a thrill ride for first time flyers and a highly competitive sport for all ages. It has been popular not only among keen skydivers but also with families and those who have always dreamed of flying but are looking for a safer alternative to jumping out of a plane. Now everyone can fly – from as young as 3!

iFLY Perth and is the latest, most exciting, all-weather entertainment facility to open in the WA region in the next few weeks , however you can already get a taste of the experience at iFLY facilities in Sydney and here in the  Gold Coast. Find out more at ifly.com.au.

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iFLY Perth Video updates

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August 2016

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September 2016

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Veritas Equity Research – September 2016

With the positive tailwind from Penrith’s growth and new tunnels, read the full Equity Research report conducted by Veritas here.

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iFLY PERTH – Update

Construction at our iFLY Perth Facility is tracking well, with the Return Air Tower (RAT) walls being constructed and the flight chamber well into assembly. Our programme of work is on track for the end of 2016 opening with all tunnel equipment now onsite ready for assembly and installation. Follow all the latest via our Facebook page:  iFLYDownunderPerth 

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August ISAG update

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iFLY Perth ON-TRACK

iFLY Perth is moving in leaps and bounds as the Piling is completed and Capped. The piles were driven to a maximum depth of almost 14 meters in preparation for the excavation.

Excavation commences this week, which will see the heavy machinery move in to dig down 5 meters to form part of the Plenum (basement) of the facility. This is a major milestone in the construction of iFLY Perth.

FOLLOW US: facebook.com/iFLYDownunderPerth

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iFLY Perth takes shape

iFLY Perth construction teams have been onsite preparing the groundworks. Over the next few weeks the site will be transformed, as we start the build of our 14ft diameter vertical wind tunnel, and bring the thrill of flying to Western Australia.

Digging Holes at iFLY Perth
Digging Holes at iFLY Perth

For more information, follow us: facebook.com/iFLYDownunderPerth

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Veritas Equity Research – March 2016

Read the Equity Research report conducted by Veritas here.

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iFLY Perth Starts Construction

Appointment of iFLY Perth Builder and Commencement of Construction Indoor Skydive Australia Group Limited (ASX: IDZ)(ISA Group) today announced that Metrowest Construction Pty Ltd (Metrowest) has been appointed as the builder for iFLY Perth, our third indoor skydiving facility.

Metrowest has been selected following the completion of a thorough tender process, which included:

  • A public request for tender for design and construction of the Perth facility based on the 50% design documentation completed by ISA Group;
  • Evaluation of the tender responses which resulted in 3 shortlisted builders who each progressed to the value engineering phase.
  • Completion of an engineering phase which focused on alternative design or construction methodologies which resulted in buildability, time or cost advantages.

The more sophisticated tender process was led by Point Project Management (PPM) whom ISA Group appointed in early November 2015 to provide additional costs transparency and control throughout the project.

Metrowest has been engaged to perform the works in separable portions which means that each stage of the works is completed within a timeline specific to that portion of works and that the progress and quality of each stage is assessed and accepted before approval is given to proceed to the next stage.

The first stage of the works will commence immediately and include the completion of design to building license submission, installation of piles and capping beam and the related earthworks.

Under the contract all the requirements for the commencement of operations are programed to be completed to enable iFLY Perth to open in the last quarter of 2016 with an expected capex of $14 to 15 m.

To stay up to date, follow us on Facebook and Linked in!

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Moelis Report: Buy IDZ (TP:$0.54)

Indoor Skydive Australia Group (IDZ) – Buy
Price: $0.380; Target Price: $0.54
Please click here for the full report.

Maiden EBITDA Positive Result as Penrith Holds its Own

Company Update

Event
IDZ recorded their maiden EBITDA positive result of $33k, as revenues from the Penrith centre increased 20% to $3.7m for the half.
The Penrith centre delivered operational EBITDA of ~$2m, representing an EBITDA margin of 55%. Average utilisation for the period was 66%, up from 64% in pcp. First timers percentage of flyers increased to 59%, from 53% in FY15.
Impact
Despite the delay in the opening of Gold Coast, IDZ’s maiden EBITDA positive result highlights the point of inflection that the business has entered on the back of its high margin centres. We estimate a cost impact from the Gold Coast of ~$0.5m before missed revenues.
The 20% revenue growth for Penrith is encouraging in our view, showing IDZ’s ability to drive interest beyond the initial opening period and providing an earnings base expectation for future centres. We believe this de-risks the long term investment thesis.
In addition, IDZ’s ability to increase the % of first timer flyers from 53% in FY15 to 59% provides some comfort around the ability to drive new business and potentially deliver a more sustainable earnings profile.
We have adjusted our earnings estimates to reflect 1H16 actuals as well as shift out the Perth opening to the end of CY16, impacting FY17 estimates.
Investment View
We retain our BUY rating and target price of $0.54. In our view the current valuation appears to not reflect the upside potential related to the operating leverage from the high margin centre rollout.
With the launch of Gold Coast now complete, we anticipate some earnings uplift in 2H16, with FY17 benefiting from a third centre and a full year contribution from the Gold Coast.

Kyle Twomey
moelis.com

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iFLY Gold Coast NOW OPEN

Gold Coast, QLD: iFLY Indoor Skydiving, the Gold Coast’s latest and much anticipated tourist attraction, has announced flights have officially taken off!

The ISA Group is proud to announce that their second iFLY facility is now well and truly open to the public ready to bring the thrill of skydiving indoors for anyone aged 3 to 103.

Indoor Skydive Australia Group CEO Wayne Jones is thrilled with how well the new facility is going even before its official opening date stating that “we have had great local support for the facility and feedback that has instilled confidence that our Gold Coast facility will be just as popular as our location in Sydney”. “Now that it’s open, we anticipate that everyone on the Gold Coast is going to love this brand new attraction to their area” continues Jones.
Gold Coast Mayor Tom Tate first visited the facility in November and comments the new attraction will be an innovative and creative asset to the city.  “The Gold Coast’s success as Australia’s No 1 tourism city is built on the fact we continually renew our attractions and services for both residents and tourists,’’ quotes Mayor Tom Tate, “This is another example of how confidence in our city is increasing, meaning more investment, more jobs and more exciting attractions for locals and tourists alike”.

CEO Wayne Jones concurs stating “It’s incredible to know that we are not only bringing the joy of flight to people on the Gold Coast, but we are also investing in the city and committing to the community through the provision of jobs and an amazing sporting activity for Gold Coast locals and tourists alike.”

Indoor Skydive Australia Group currently employs over 50 staff members with 25 local jobs created in the Gold Coast. This is expected to increase over the coming years with expansion plans already in the works.

“Aussies absolutely love Indoor Skydiving and the amount of flying time we have sold since we birthed the idea back in early 2014 is phenomenal”, comments Brett Sheridan, ISA Group CMO.
“We have watched it develop into a national sport and we have also seen more people than ever give it a go”, continues Sheridan, “it really is a unique experience that is proving to be the go-to activity for everyone from families to adrenaline seekers!”

iFLY Gold Coast is taking bookings now with two flights starting from only $99.00.
iFLY Gold Coast is now open and flying!
More information on our iFLY Gold Coast Facebook page and to BOOK: ifly.com.au OR CALL 1300 366 364